Cap. 590 Art. 39Power of competent authoritytorequire information. 

(1) The competent authority may, by notice in writing, require -

(a) any person who is or was providing, or who appears to be or to have been providing a VFA service as well as any persons that control them or are controlled by them;

(b) any issuer, intermediary involved in the initial VFA offering as well as any persons that control them or are controlled by them;

(c) any person who has issued, or appears to have issued an advertisement falling within the provisions of articles 6 or 29;

(d) an auditor of a person regulated under this Act;

(e) any other person who appears to be in possession of relevant information or documentation, to do all or any of the following:

(i) to furnish to the competent authority, at such time and place and in such form as it may specify, such information and documentation as it may require, including the power to require existing telephone, existing data traffic and existing DLT records, with respect to any such service, DLT asset, advertisement or website as aforesaid, or with respect to any person with whom the licence holder has close links within the meaning of article 17;

(ii) to review the determination made in terms of articles 3 or 13 and confirm in writing the competent authority that such determination is true and accurate or otherwise;

(iii) to furnish to the competent authority any information or documentation aforesaid verified in such manner as it may specify;

(iv) to attend before the competent authority, or before a person appointed by it, at such time and place as it may specify, to answer questions and provide information and documentation with respect to any such service, scheme or advertisement as aforesaid:

Provided that the powers in this article shall not permit the competent authority to demand information about source codes of any proprietary technology or of information of highly sensitive, intellectual property which is protected by law and which relates to innovative DLT or smart contracts.

(2) Without prejudice to anything which the competent authority may require under sub-article (1), all information in respect of virtual financial assets traded on a VFA exchange and held by the exchange shall be freely accessible to the competent authority:

Provided that the provisions of this sub-article shall also be applicable where a virtual financial asset is determined by the competent authority to be electronic money or a financial instrument in terms of article 13(2)(b).

(3) The competent authority may take copies of any documents furnished or provided under this article.

(4) Where the person required to provide information or documentation under this article does not have the relevant information or documentation, he shall disclose to the competent authority where, to the best of his knowledge, that information or documentation is, and the competent authority may require any person, whether indicated as aforesaid or not, who appears to it to be in possession of that information or documentation, to provide it.

(5) A statement made and documentation provided in pursuance of any requirement under this article may be used in evidence against the person making the statement or providing the documentation as well as against any person to whom they relate.

(6) The provisions of this article shall not apply to information or documentation which is privileged in accordance with the provisions of article 642(1) of the Criminal Code or which refer to cryptographic keys belonging to the person required to provide information or documentation under this article:

Provided that the provisions of this sub-article shall not apply to the actual information protected by the cryptographic keys.

(7) The power to require the production of documentation under the provisions of this article shall be without prejudice to any lien or charge claimed by any person in relation to such documentation.

(8) Where the competent authority has appointed a person under article 42(1)(c), such person shall, for the purposes of carrying out his functions under his appointment, have all the powers conferred on the competent authority by this article and a requirement made by it shall be deemed to be and have the same force and effect as a requirement of the competent authority.

(9) Without prejudice to the other provisions of this article, a licence holder may be required to submit to the Central Bank of

Malta such information as the Bank may reasonably require for the discharge of its duties under the Central Bank of Malta Act.